BTU Announces Shareholder Approval of Option Agreement with Kinross Gold Corporation
May 4, 2023, Vancouver, BC, Canada – BTU METALS CORP. (“BTU” or the “Company”) (BTU- TSX:V BTUMF-OTC) is pleased to announce the Company has received shareholder approval, via a Special Meeting, of an option agreement with Kinross Gold Corporation (“Kinross"), (see PR February 22, 2023) that will strengthen the exploration effort on the significant properties of BTU in the Great Bear gold area southeast of the main Red Lake Gold camp area of northwestern Ontario (the “Dixie Halo Project”). The Dixie Halo Project is located adjacent to Kinross’s Great Bear project (the “Great Bear Project”) that Kinross, on February 13, 2023, headlined in a press release: “Kinross announces robust initial mineral resource of 2.7 Moz. indicated and 2.3 Moz. inferred for Great Bear project”.
BTU CEO Paul Wood commented; “Now that the shareholders have voted overwhelmingly to approve the option agreement with Kinross the geological teams will be meeting in the coming weeks to define the 1st phase of the work plan on the Dixie Halo Project.”
On February 22, 2023, BTU entered into an option agreement (“Option Agreement”) pursuant to which BTU granted an option to Kinross to acquire an undivided 70% interest in and to 757 mining claims covering approximately 16,410 hectares of land, located in the Kenora District of Ontario (the “Optioned Properties”).
During the term of the Option Agreement, Great Bear Resources Ltd., a subsidiary of Kinross), will be the operator of the Optioned Properties.
BTU Metals Corp. is a junior mining exploration company focused on the Dixie Halo Project located in Red Lake, Ontario immediately adjacent to the Great Bear Project.
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Paul Wood, CEO, Director firstname.lastname@example.org
BTU Metals Corp.
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This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, including the intention to complete the Private Placement and the expected expenditure of the proceeds of the Private Placement, the intention to complete the Acquisition and the intention to Complete the transactions contemplated under the Option Agreement are forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company.
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